Wealthstream Advisors Inc. Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Wealthstream Advisors Inc. raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,535 shares of the company’s stock after buying an additional 249 shares during the period. Wealthstream Advisors Inc.’s holdings in GE Vernova were worth $505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. Howard Capital Management Group LLC purchased a new stake in GE Vernova during the third quarter valued at approximately $213,000. Private Advisor Group LLC increased its holdings in GE Vernova by 8.2% during the third quarter. Private Advisor Group LLC now owns 20,098 shares of the company’s stock valued at $5,125,000 after buying an additional 1,531 shares during the last quarter. Country Club Bank purchased a new stake in GE Vernova during the third quarter valued at approximately $201,000. Forsta AP Fonden increased its holdings in GE Vernova by 12.6% during the third quarter. Forsta AP Fonden now owns 57,131 shares of the company’s stock valued at $14,567,000 after buying an additional 6,400 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in GE Vernova by 19.3% during the third quarter. GHP Investment Advisors Inc. now owns 401 shares of the company’s stock valued at $102,000 after buying an additional 65 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley upped their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. BMO Capital Markets increased their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group increased their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Trading Down 8.9 %

Shares of GEV opened at $327.68 on Monday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a market cap of $90.41 billion and a P/E ratio of 58.93. The company’s fifty day simple moving average is $364.41 and its 200-day simple moving average is $301.20.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.